Top 3 EU Countries for Opening Non-Resident Bank Account

If you are looking to open non-resident bank account in the EU, then keep reading on as we are going to discuss general steps and best countries to open bank accounts in.

In today's interconnected world, banking knows no borders. Non-residents now have the opportunity to access European Union (EU) banking services, but the process can be challenging. This guide explores the best EU countries for non-resident accounts and the key factors to consider.

Understanding the Challenge Of Non-Resident Banking

Opening a bank account in the EU as a non-resident has become increasingly difficult due to tighter compliance standards, de-risking practices, and fragmented requirements across member states. Traditional banks often demand extensive documentation — such as a local tax identification number, proof of business activity within the EU, evidence of economic substance, or even a resident director — before considering an application.

For individuals, some banks also require a residence permit or proof of long-term ties to the region, making personal non-resident accounts harder to obtain.

For businesses, the situation varies. While registering a company within the EEA can improve your chances, banks now closely examine the nature of the business, physical operations in the EU, and projected transaction flows to assess whether the account aligns with their risk policies. High-risk sectors such as crypto, gaming, or remittances face even greater scrutiny, often resulting in rejection despite having an EU-registered entity.

To overcome these hurdles, many entrepreneurs and companies are turning to electronic money institutions (EMIs), digital banks, and fintech providers. These alternatives typically offer multi-currency IBANs, faster onboarding, and fewer geographic restrictions, though they may come with transaction limits or require additional compliance reporting. For example, a fintech startup in Dubai serving European clients may find it easier to onboard with a licensed EMI in Lithuania or Ireland than with a traditional EU high-street bank.

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Critical Points For Having Non-Resident Bank Accounts in the EU

When exploring non-resident accounts in the EU, several essential factors come into play:

1. Account Fees and Benefits: Pay attention to fees such as maintenance charges, transaction fees, currency conversion or hedging costs, and ATM withdrawal charges. Additionally, examine account benefits like mobile app, cashback rewards, and relationship manager or point of contact.

2. Accessibility and Management: Evaluate how easy it is to open and manage the account. Consider factors like online banking platform availability, mobile app user-friendliness, and customer service quality in-app and on the phone.

3. Legal and Regulatory Environment: Understand the legal and regulatory framework of the country and banking provider, including data protection policies, tax requirements, and deposit guarantee schemes.

4. Provider's Flexibility: Assess the institution's policy for non-residents. Some may require proof of EU residence, local office and director, functioning website, while others have a more relaxed approach and might open an account having a basic pack of company documents.

Top 3 EU Countries for Non-Resident Accounts

1. United Kingdom: As a fintech hub, United Kingdom offers a quick and cost-effective entry to the EU digital banking market. There are plenty of digital and traditional banks that can serve as multi-currency gateway to EEA markets. Accounts in the UK have GB IBANs that are usually multi-currency and can receive or send all European currencies.

2. The Netherlands: Recognized for its progressive banking infrastructure, the Netherlands offers global access to digital services and seamless online account opening. Moreover, Dutch traditional banks highly support local Fintech ecosystem and having an account with digital bank is as much effective as having a top tier traditional bank account.

3. Germany: With stability and access to the EU online banking market, Germany boasts a wide range of services. Germans are well known to have a reliable and trust-worthy banking system that ensures the safety of funds.

If you would like to explore the above discussed countries and most non-resident friendly banks for account opening, get in touch with us and we will make sure that you get the best possible deal for your banking services!

Is It Easy to Open a Bank Account in Europe for Crypto Businesses?

Opening a bank account in Europe for a crypto-related business is still challenging in 2025. While regulatory clarity under the EU’s MiCA framework has improved acceptance, many traditional banks remain cautious due to compliance risks and strict AML obligations. Businesses often face long due diligence checks, requests for detailed transaction monitoring policies, and higher rejection rates compared to non-crypto firms. However, specialized crypto-friendly banks and EMIs in jurisdictions like Lithuania, Estonia, and Ireland offer more accessible pathways, providing multi-currency IBANs and SEPA access for companies that can demonstrate strong compliance and transparent operations.

Conclusion

In conclusion, opening a non-resident bank account in the EU offers a world of financial opportunities for both individuals and businesses.